India on the path to become powerhouse, driving global growth by 2047: Goyal

Commerce and Industry Minister, Piyush Goyal has said that India is on the path to become a powerhouse driving global growth by 2047. He said this while interacting with the Business Community of Southern California.  

The Minister added that the transformational work happening in India has taken the country to the 5th spot among world economies. He mentioned that CII estimates India in 2047 to be a 35 to 45 trillion dollar economy taking India into the league of developed nations.

Mr. Goyal said, conclusion of the Indo-Pacific Economic Framework is an important milestone for free and fair trade with like-minded countries, who share a common objective to have rule-based international order and a transparent economic system.  

He also said that politically stable and open economies in the Indo-pacific are coming together to expand economic activities among each other.

Mr. Goyal emphasised that India today is a land of opportunities and a potential market for the business community in the US. He noted that the country has the advantage of demographic dividend and its aspirational young population provides a huge opportunity for growth.

He mentioned that India is also rapidly transitioning to clean energy, adding that country aspires to achieve 500 GW of green energy capacity by 2030.

The Minister said that Prime Minister  Narendra Modi has brought political stability to the country and under his leadership the country has a government that is decisive, willing to take strong decisions, balances public good and social welfare and at the same time also empowering 1.3 billion citizens become better citizens and contribute to economic growth and development of the country.